Takeover premiums and the perception of auditor independence and reputation

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dc.contributor.author Bugeja, M
dc.contributor.editor Faff, R
dc.date.accessioned 2010-07-13T08:51:15Z
dc.date.issued 2009-01
dc.identifier.citation 2009 AFAANZ Conference, 2009, pp. 1 - 41
dc.identifier.issn 1328-780X
dc.identifier.other E1UNSUBMIT en_US
dc.identifier.uri http://hdl.handle.net/10453/12721
dc.description.abstract This study investigates if there is a positive association between takeover premiums and the bidders perception of target firm auditor reputation and independence. Using auditor size as a proxy for auditor reputation, the results indicate that target shareholders receive a higher takeover premium when a Big 4 auditor audits the target firm in the year prior to the takeover announcement. This result is only significant however in the period prior to the highly publicised audit failures. The impact of perceived auditor independence on takeover premiums is studied using the levels and size of non-audit service (NAS) fees provided by the target firm auditor. Using three proxies for auditor independence, the results do not show an association between perceived auditor independence and takeover premiums. This finding is robust to partitioning the sample by auditor size, takeover hostility and splitting the sample into takeovers pre- and post- the corporate scandals that occurred in 2002.
dc.publisher AFAANZ
dc.title Takeover premiums and the perception of auditor independence and reputation
dc.type Conference Proceeding
dc.parent 2009 AFAANZ Conference
dc.journal.number en_US
dc.publocation Australia en_US
dc.identifier.startpage 1 en_US
dc.identifier.endpage 41 en_US
dc.cauo.name BUS.School of Accounting en_US
dc.conference Verified OK en_US
dc.conference Accounting and Finance Association of Australia and New Zealand Conference
dc.for 150102 Auditing and Accountability
dc.personcode 106487
dc.percentage 100 en_US
dc.classification.name Auditing and Accountability en_US
dc.classification.type FOR-08 en_US
dc.edition en_US
dc.custom Accounting and Finance Association of Australia and New Zealand Conference en_US
dc.date.activity 20090705 en_US
dc.date.activity 2009-07-05
dc.location.activity Adelaide, Australia en_US
dc.description.keywords Auditor independence, auditor quality, mergers and acquisitions, takeover premiums en_US
dc.description.keywords Auditor independence, auditor quality, mergers and acquisitions, takeover premiums
pubs.embargo.period Not known
pubs.organisational-group /University of Technology Sydney
pubs.organisational-group /University of Technology Sydney/Faculty of Business
pubs.organisational-group /University of Technology Sydney/Faculty of Business/School of Accounting
utslib.copyright.status Open Access
utslib.copyright.date 2015-04-15 12:23:47.074767+10
utslib.collection.history General (ID: 2)


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